IN SB0247

Enacts the Uniform Certificate of Title for Vessels Act, establishing requirements for vessel title applications and issuance in Indiana for vessels used principally on Indiana waters.

Requires vessel owners to apply for a certificate of title within 20 days of becoming an owner or when a vessel becomes principally used on Indiana waters.

Exempts federally documented vessels, foreign documented vessels, barges, vessels under construction, and dealer-owned vessels from title requirements.

Establishes certificate of title fees of $9.50, with $7.00 to the Department of Natural Resources and $2.50 to the bureau, plus associated administrative procedures for creation, transfer, and security interest perfection.

Repeals existing watercraft title law and becomes effective July 1, 2014.